Tomorrow, USDA will release the semi-annual cattle inventory report reflecting cattle numbers as of 1 January. The pre-report consensus estimate is the total number of cattle will come in at about 98 percent of last year, indicating the contraction cycle continued through 2023. January 2023 saw the smallest beginning of the year cattle inventory since 2015; this year’s expected decrease in the herd would make it the smallest since 1951.
Expectations for tomorrow’s report are for almost every category to be down meaningfully from last year, except for beef replacement heifers. The average estimate is just marginally below last year’s total, but that range of forecasts is wide, from 97 percent at the low end to 104...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Total Red Meat & Poultry September 2026 total red meat and poultry stocks totaled 1.97 billion pounds, down 1.4 percent from August despite typically increasing 0.8 percent during the month, and were 1.5 percent below September 2025 levels. The decline pushed total inventories to a new five...
